Falchani West now has been drill tested 475 m N-S along section within the Falchani West target area and up to approximately 450 m E-W based on drill hole traces projected to surface and the eastern valley edge

As observed at Falchani East, Lithium mineralization thins to the south due to the presence of a lithium-bearing sub-volcanic felsic intrusion affecting the overlying tuff and breccia units

Northward towards Platform 14, the lithium mineralization becomes increasingly thick away from the southern intrusion, and is essentially at surface due to its lower elevation and erosion of the barren rhyolite cover rocks

Three rigs continue to drill at Falchani West towards the West (platforms 32, 33 and 36) and plan to move North through to the end of 2018

“Our continued success at Falchani West is encouraging, in particular the presence of a significantly thicker lower breccia unit, as we continue West and North to grow our resource base” commented Alex Holmes, CEO. “Our project team will continue drilling through to the end of December as we look to incorporate these results into a late Q1 2019 resource update”

Falchani Interpretation

Falchani West appears to represent a similar, but potentially larger side of a 6 km by 5 km collapsed caldera with faulting due to the presence of a sub-volcanic felsic intrusion creating an interpreted resurgent dome centred along the N-S faulted valley separating Falchani West area from the Falchani East resource.

In the southern drilled extents of both Falchani East and West, lithium mineralization thins to the south due to the presence of this lithium-bearing, sub-volcanic felsic intrusion representing the southern edge of the caldera. The intrusion affects the formation, orientation and preservation of the overlying tuff and breccia units.

In the northern drill platforms (example PLAT-14), the lithium-rich tuff unit and to a greater extent, the mineralized lower breccia unit become extremely thick to the north and west from the interpreted resurgent dome intrusion. The lower breccia contains large intersections of Li-rich tuff interpreted as large blocks within the host breccia. The highest grade lithium mineralization encountered to date is located proximal to the base of the thick lower breccia, immediately above the lithium-bearing sub-volcanic intrusion. It is interpreted that this sub-volcanic intrusion was a source of heat and lithium-bearing fluids that locally enhanced the lithium contents of the volcano-sedimentary rocks within the collapsed caldera lake.

Based on the available data, the Company’s technical team believes the collapsed caldera setting may have trapped the lithium-rich mineralization millions of years ago, during the latest extrusive episode of one of the youngest member of the Macusani rhyolites.

The Company’s technical team is working together with its technical advisors to understand more fully this unique volcanic lithium deposit model setting, and research is being considered to unravel the geology and evolution of Falchani.

“It appears that we have a very large-scale depositional environment for our lithium project at Falchani. Within a deep and wide caldera lake, several generations of volcanic ash layers were trapped and transformed into the hardened tuff units that we see today,” stated Dr. Laurence Stefan, President & COO. “To date our metallurgical work completed at several laboratories all over the world has determined that the geochemistry of several trace and major elements is mostly similar to a “high-grade” brine, with geotechnical similarities to a hard rock project.”

The occurrence of Li-rich tuffs at depth below the Li-rich sub-volcanic intrusion demonstrates that separated layers and blocks of the tuff unit may exist in other parts of the caldera due to the complex post-sedimentary evolution of the tuff.

The top 21 m comprised unconsolidated colluvium gravels

Quality Assurance, Quality Control and Data Verification

Drill core samples are cut longitudinally with a diamond saw with one-half of the core placed in sealed bags and shipped to Certimin’s sample analytical laboratory in Lima for sample preparation, processing and ICP-MS/OES multi-element analysis. Certimin is an ISO 9000 certified assay laboratory. The Company’s Qualified Person for the drill programme, Mr. Ted O’Connor, has verified the data disclosed, including drill core, sampling and analytical data in the field and lab. The program is designed to include a comprehensive analytical quality assurance and control routine comprising the systematic use of Company inserted standards, blanks and field duplicate samples, internal laboratory standards and has also included check analyses at other accredited laboratories.

Qualified Persons

Mr. Ted O’Connor, P.Geo., a Director of Plateau Energy Metals, and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

Plateau Energy Metals Inc. is a Canadian lithium and uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 93,000 hectares (930 km2) situated near significant infrastructure. Plateau Energy Metals is listed on the TSX Venture Exchange under the symbol 'PLU', quoted on the OTCQB under the symbol “PLUUF” and the Frankfurt Exchange under the symbol 'QG1'. The Company has 76,892,314 shares issued and outstanding.

Forward Looking Information

This news release includes certain forward-looking statements concerning the use of the proceeds from the Offering and the Company’s plans with respect to its properties. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “scheduled”, “subject”, “efforts”, “option” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks and uncertainties relatingto the use of the proceeds from the Offering; interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which we operate; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the certainty of title to our properties; risks related to the uncertain global economic environment; and other risks and uncertainties related to our prospects, properties and business strategy, as described in more detail in Plateau Energy Metals’ recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Plateau cautions against placing undue reliance thereon. Neither Plateau nor its management assume any obligation to revise or update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.